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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Measurements |
Schedule of balance of assets and liabilities which are measured at fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2025
​ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury | ​ | $ | 190,446 | ​ | $ | - | ​ | $ | - | ​ | $ | 190,446
U.S. government agencies | ​ | ​ | - | ​ | ​ | 38,141 | ​ | ​ | - | ​ | ​ | 38,141
U.S. government agencies mortgage-backed | ​ | ​ | - | ​ | ​ | 96,083 | ​ | ​ | - | ​ | ​ | 96,083
States and political subdivisions | ​ | ​ | - | ​ | ​ | 197,708 | ​ | ​ | 11,106 | ​ | ​ | 208,814
Collateralized mortgage obligations | ​ | ​ | - | ​ | ​ | 395,014 | ​ | ​ | ​ | ​ | ​ | 395,014
Asset-backed securities | ​ | ​ | - | ​ | ​ | 44,684 | ​ | ​ | 3,435 | ​ | ​ | 48,119
Collateralized loan obligations | ​ | ​ | - | ​ | ​ | 201,071 | ​ | ​ | - | ​ | ​ | 201,071
Loans held-for-sale | ​ | ​ | - | ​ | ​ | 3,235 | ​ | ​ | - | ​ | ​ | 3,235
Mortgage servicing rights | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 9,680 | ​ | ​ | 9,680
Interest rate derivatives 1 | ​ | ​ | - | ​ | ​ | 4,452 | ​ | ​ | - | ​ | ​ | 4,452
Mortgage banking derivatives | ​ | ​ | - | ​ | ​ | 1 | ​ | ​ | - | ​ | ​ | 1
Total | ​ | $ | 190,446 | ​ | $ | 980,389 | ​ | $ | 24,221 | ​ | $ | 1,195,056
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap agreements, including risk participation agreements | ​ | $ | - | ​ | $ | 1,719 | ​ | $ | - | ​ | $ | 1,719
Total | ​ | $ | - | ​ | $ | 1,719 | ​ | $ | - | ​ | $ | 1,719
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ 1 Interest rate derivatives includes interest rate swaps, a rate cap and risk participation agreements. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024
​ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury | ​ | $ | 194,143 | ​ | $ | - | ​ | $ | - | ​ | $ | 194,143
U.S. government agencies | ​ | ​ | - | ​ | ​ | 37,814 | ​ | ​ | - | ​ | ​ | 37,814
U.S. government agencies mortgage-backed | ​ | ​ | - | ​ | ​ | 100,277 | ​ | ​ | - | ​ | ​ | 100,277
States and political subdivisions | ​ | ​ | - | ​ | ​ | 203,560 | ​ | ​ | 11,896 | ​ | ​ | 215,456
Collateralized mortgage obligations | ​ | ​ | - | ​ | ​ | 368,616 | ​ | ​ | - | ​ | ​ | 368,616
Asset-backed securities | ​ | ​ | - | ​ | ​ | 59,049 | ​ | ​ | 3,254 | ​ | ​ | 62,303
Collateralized loan obligations | ​ | ​ | - | ​ | ​ | 183,092 | ​ | ​ | - | ​ | ​ | 183,092
Loans held-for-sale | ​ | ​ | - | ​ | ​ | 1,556 | ​ | ​ | - | ​ | ​ | 1,556
Mortgage servicing rights | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 10,374 | ​ | ​ | 10,374
Interest rate derivatives 1 | ​ | ​ | - | ​ | ​ | 5,526 | ​ | ​ | - | ​ | ​ | 5,526
Mortgage banking derivatives | ​ | ​ | - | ​ | ​ | 55 | ​ | ​ | - | ​ | ​ | 55
Total | ​ | $ | 194,143 | ​ | $ | 959,545 | ​ | $ | 25,524 | ​ | $ | 1,179,212
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap agreements, including risk participation agreements | ​ | $ | - | ​ | $ | 3,192 | ​ | $ | - | ​ | $ | 3,192
Total | ​ | $ | - | ​ | $ | 3,192 | ​ | $ | - | ​ | $ | 3,192
​ ​ 1 Interest rate derivatives includes interest rate swaps, a rate cap and risk participation agreements.
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis | ​ The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Six Months Ended June 30, 2025
​ | ​ | Securities available-for-sale | ​ | ​ | ​
​ | ​ | ​ | ​ | States and | ​ | Mortgage
​ | ​ | Asset-backed | ​ | Political | ​ | Servicing
​ |  | Securities | ​ | Subdivisions |  | Rights
Beginning balance January 1, 2025 | ​ | $ | 3,254 | ​ | $ | 11,896 | ​ | $ | 10,374
Transfers out of Level 3 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | -
Total gains or losses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Included in earnings | ​ | ​ | - | ​ | ​ | - | ​ | ​ | (883)
Included in other comprehensive income | ​ | ​ | (11) | ​ | ​ | (705) | ​ | ​ | -
Purchases, issuances, sales, and settlements | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Purchases | ​ | ​ | 461 | ​ | ​ | - | ​ | ​ | -
Issuances | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 407
Settlements | ​ | ​ | (269) | ​ | ​ | (85) | ​ | ​ | (218)
Ending balance June 30, 2025 | ​ | $ | 3,435 | ​ | $ | 11,106 | ​ | $ | 9,680
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Six Months Ended June 30, 2024 | ​
​ | ​ | ​ | Securities available-for-sale | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | States and | ​ | Mortgage | ​
​ | ​ | Asset-backed | ​ | Political | ​ | Servicing | ​
​ |  | Securities | ​ | Subdivisions |  | Rights |
Beginning balance January 1, 2024 | ​ | $ | 2,270 | ​ | $ | 13,059 | ​ | $ | 10,344 | ​
Transfers out of Level 3 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | - | ​
Total gains or losses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Included in earnings | ​ | ​ | - | ​ | ​ | (66) | ​ | ​ | 88 | ​
Included in other comprehensive income | ​ | ​ | (98) | ​ | ​ | (390) | ​ | ​ | - | ​
Purchases, issuances, sales, and settlements | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Purchases | ​ | ​ | 547 | ​ | ​ | - | ​ | ​ | - | ​
Issuances | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 288 | ​
Settlements | ​ | ​ | (52) | ​ | ​ | (76) | ​ | ​ | (232) | ​
Ending balance June 30, 2024 | ​ | $ | 2,667 | ​ | $ | 12,527 | ​ | $ | 10,488 | ​
Schedule of quantitative information about level 3 fair value measurements | The following table and commentary present quantitative and qualitative information about Level 3 fair value measurements as of June 30, 2025: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted
Measured at fair value | ​ | ​ | ​ | ​ | ​ | ​ | Significant Unobservable | ​ | ​ | ​ | Average
on a recurring basis: |  | Fair Value |  | Valuation Methodology |  | Inputs |  | Range of Input |  | of Inputs
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
States and political subdivisions | ​ | $ | 11,106 | ​ | Discounted Cash Flow | ​ | Discount Rate | ​ | 3.6 - 5.1% | ​ | 4.1 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | Liquidity Premium | ​ | 0.5 – 0.5% | ​ | 0.5 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Asset-backed securities | ​ | $ | 3,435 | ​ | Discounted Cash Flow | ​ | Discount Rate | ​ | 5.2 – 5.2% | ​ | 5.2 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage servicing rights | ​ | $ | 9,680 | ​ | Discounted Cash Flow | ​ | Discount Rate | ​ | 9.0 – 11.0% | ​ | 9.0 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | Prepayment Speed | ​ | 4.4 – 36.7% | ​ | 7.4 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ The following table and commentary present quantitative and qualitative information about Level 3 fair value measurements as December 31, 2024: ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted
Measured at fair value | ​ | ​ | ​ | ​ | ​ | ​ | Significant Unobservable | ​ | ​ | ​ | Average
on a recurring basis: |  | Fair Value |  | Valuation Methodology |  | Inputs |  | Range of Input |  | of Inputs
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
States and political subdivisions | ​ | $ | 11,896 | ​ | Discounted Cash Flow | ​ | Discount Rate | ​ | 5.3 – 5.4% | ​ | 5.4 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | Liquidity Premium | ​ | 0.5 – 0.5% | ​ | 0.5 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Asset-backed securities | ​ | $ | 3,254 | ​ | Discounted Cash Flow | ​ | Discount Rate | ​ | 4.9 – 4.9% | ​ | 4.9 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage servicing rights | ​ | $ | 10,374 | ​ | Discounted Cash Flow | ​ | Discount Rate | ​ | 9.0 – 11.0% | ​ | 9.0 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | Prepayment Speed | ​ | 0.0 – 31.5% | ​ | 6.9 | %
Schedule of assets measured at fair value on a nonrecurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2025
​ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Individually evaluated loans1 | ​ | $ | - | ​ | $ | - | ​ | $ | 23,483 | ​ | $ | 23,483
Other real estate owned, net2 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 6,486 | ​ | ​ | 6,486
Total | ​ | $ | - | ​ | $ | - | ​ | $ | 29,969 | ​ | $ | 29,969
​ 1 Represents carrying value and related write-downs of loans for which adjustments are substantially based on the appraised value of collateral for collateral-dependent loans, which had a carrying amount of $28.6 million and a valuation allowance of $5.2 million, resulting in a decrease of specific allocations within the allowance for credit losses on loans of $2.0 million for the six months ended June 30, 2025. 2 OREO is measured at the lower of carrying or fair value less costs to sell, and had a net carrying amount of $6.5 million at June 30, 2025, which is made up of the outstanding balance of $7.0 million, net of a valuation allowance of $562,000. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024
​ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Individually evaluated loans1 | ​ | $ | - | ​ | $ | - | ​ | $ | 19,058 | ​ | $ | 19,058
Other real estate owned, net2 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 21,617 | ​ | ​ | 21,617
Total | ​ | $ | - | ​ | $ | - | ​ | $ | 40,675 | ​ | $ | 40,675
​ 1 Represents carrying value and related write-downs of loans for which adjustments are substantially based on the appraised value of collateral for collateral-dependent loans and to a lesser extent the discounted cash flow, which had a carrying amount of $26.2 million and a valuation allowance of $7.2 million, resulting in a decrease of specific allocations within the allowance for credit losses on loans of $3.9 million for the year December 31, 2024. 2 OREO is measured at the lower of carrying or fair value less costs to sell, and had a net carrying amount of $21.6 million at December 31, 2024, which is made up of the outstanding balance of $23.5 million, net of a valuation allowance of $1.9 million.

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- Definition Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset or liability. + References No definition available. + Details
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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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